Property Type

Blanchard & Calhoun Brokers $19.5M Sale of Two Publix-Anchored Centers in Metro Atlanta

by John Nelson August 11, 2015

ALPHARETTA AND LOCUST GROVE, GA. — Blanchard & Calhoun Commercial has brokered the $19.5 million sale of two Publix-anchored shopping centers in metro Atlanta. The properties include the 82,905-square-foot Birmingham Village in Alpharetta and the 89,567-square-foot Shoppes at Locust Grove in Locust Grove. Birmingham Village was 78 percent leased and Shoppes at Locust Grove was 71 percent leased at the time of sale. Blanchard & Calhoun represented the buyer, an international REIT, in the transaction. The seller was the original developer of the two shopping centers.

August 11, 2015

Georgia Industrial Southeast

Performance Food Group Begins Expansion of Food Distribution Center in Georgia

by John Nelson August 11, 2015

OAKWOOD, GA. — Performance Food Group (PFG) has begun the expansion of its Performance Foodservice – Milton’s food distribution facility in Oakwood, a city in Hall County near Gainesville. PFG’s expansion project includes the construction of a new 174,000-square-foot building located at 3501 Old Oakwood Road. The new facility will feature a freezer, meat cutting operation, maintenance areas and space for fleet operations. The project is scheduled for completion in 2016 to be followed by the conversion of PFG’s existing freezer into a three-zone cooler section.

August 11, 2015

Florida Retail Southeast

Trinity Signs Walmart Neighborhood Market to Anchor Shopping Center in South Florida

by John Nelson August 11, 2015

PALM SPRINGS, FLA. — Trinity Place Holdings has executed a long-term lease with Wal-Mart Stores Inc. to bring a new Walmart Neighborhood Market to South Florida. The new 42,000-square-foot grocery store will anchor Trinity’s 112,000-square-foot Shoppes at Forest Hill, a shopping center located at the intersection of Forest Hill Boulevard and South Military Trail in Palm Springs. The Walmart Neighborhood Market is expected to open in the spring of 2016 and will bring approximately 95 new jobs to the area. David Lipp of Atlantic Commercial Group Inc. and David Emihovich of Katz & Associates were the broker and the agent, respectively, for the transaction.

August 11, 2015

Hospitality South Carolina Southeast

Hotel Development Partners, Ares Management Acquire Three Hotels in North Charleston

by John Nelson August 11, 2015

NORTH CHARLESTON, S.C. — Hotel Development Partners and funds managed by Ares Management LP have purchased three select-service hotels in North Charleston totaling 248 rooms. The properties include the Residence Inn by Marriott Charleston North/Ashley Phosphate, the Fairfield Inn & Suites by Marriott Charleston North/Ashley Phosphate and an unnamed Choice Hotels-branded hotel. Including this transaction, HDP and Ares Management have purchased 10 hotels together, with the other seven hotels located in the metro Atlanta area. HDP is an Atlanta-based joint venture between Hotel Equities and IRE Capital. Hotel Equities has assumed management of the three hotels.

August 11, 2015

Maryland Office Southeast

DTZ Arranges $7.4M Sale of Office Building in Baltimore’s CBD

by John Nelson August 11, 2015

BALTIMORE — DTZ has brokered the $7.4 million sale of a 61,655-square-foot office building located at 300 W. Pratt St. in Baltimore’s central business district (CBD). Baltimore-based Valstone Partners purchased the property from Guggenheim Real Estate LLC. The office building was 55 percent leased at the time of sale. Jonathan Carpenter, Nicole Keelty and Graham Savage of DTZ’s Baltimore capital markets team represented the seller in the transaction.

August 11, 2015

California Retail Western

McGrath Family Sells 294,428 SF Retail Portfolio in San Diego for $107.1M

by Nellie Day August 11, 2015

SAN DIEGO — The McGrath Family has completed the disposition of a retail portfolio encompassing 294,428 square feet along Clairemont Mesa Boulevard and Shawline Drive in San Diego’s Kearny Mesa submarket. New York-based Clarion Partners and San Diego-based HP Investors acquired the portfolio on behalf of one of the partnership’s commingled funds for $107.1 million. Situated on 29 acres, the portfolio consists of six single-tenant retail properties and one retail strip center. Tenants at the fully leased portfolio include Walmart, LA Fitness, McDonald’s, Food 4 Less, Starbucks Coffee, Verizon and Chipotle, among others. Randy LaChance and Mark Caston of Voit Real Estate Services represented the seller in the transaction. The buyer was self-represented in the deal.

August 11, 2015

California Office Western

KCI Warner Acquires 45,597 SF Office Building in Huntington Beach

by Nellie Day August 11, 2015

HUNTINGTON BEACH, CALIF. — KCI Warner has acquired a 45,597-square-foot office building in Huntington Beach for $7.5 million. The building is located at 4552 Warner Ave. Rob Rader of Wind Water Investment Co. represented KCI. David Romero of Lee & Associates – Newport Beach represented the seller, Twomey/Ezzell/Balfour.

August 11, 2015

Arizona Retail Western

Capital Forsight Buys Walgreens Building in Tucson for $9.7M

by Nellie Day August 11, 2015

TUCSON, ARIZ. — Capital Forsight has purchased a 15,413-square-foot building in Tucson that is triple-net leased to Walgreens for $9.7 million. The building is located at 7111 East Golf Links Road. It is an outparcel to the 99 Cent Only-anchored Desert Square Shopping Center. Walgreens is corporate-guaranteed and has 23 years remaining on its 25-year initial term. CAPRE Real Estate Investments represented Capital Forsight. Nick Coo, Matt Mousavi and Patrick Luther of Faris Lee Investments represented the seller, Sierra Industrial.

August 11, 2015

California Retail Western

Lee & Associates Arranges $36.7M Sale of Puente Hills East

by Nellie Day August 11, 2015

CITY OF INDUSTRY, CALIF. — Lee & Associates has arranged the sale of Puente Hills East, a 195,063-square-foot shopping center located in City of Industry, for $36.7 million. The Target-anchored center was 100 percent occupied at the time of sale by tenants including Ross Dress for Less, PetSmart, Old Navy, Ulta Beauty, Wells Fargo and Macaroni Grill. Ryan Swanson and Kurt Bruggeman of Lee & Associates represented the buyer, a private investor, and Dixie Walker, Charley Simpson and Andrew Milne of DTZ represented the seller, The James Campbell Company, in the transaction.

August 11, 2015

California Retail Western

Marcus & Millichap Promotes Ten

by Nellie Day August 11, 2015

CALABASAS, CALIF. — Calabasas-based Marcus & Millichap has named nine senior vice presidents of investments and one executive vice president of investments. Alvin Mansour was named executive vice president. Senior vice president promotions include Eduardo Cerna, a multifamily specialist in Palo Alto, California; Jerry Goldstein, a retail specialist in Houston, Texas; Douglas Mandel, an office and industrial specialist in Fort Lauderdale, Florida; Richard Ringer, a multifamily specialist in Los Angeles; Steven Siegel, an institutional retail and net-lease specialist in New York City; Mark Taylor, an institutional retail and net-lease specialist in Philadelphia; Dean Zang, an institutional and retail net-lease specialist in Washington, D.C.; Christopher Zorbas, an institutional and multifamily specialist in San Diego; and Alex Zylberglait, an office and industrial specialist in Miami.

August 11, 2015

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